7 May

New housing strategy announced

New housing strategy announced

Some 654,000 new homes will be delivered in the south-east between now and 2026 as part of a new government scheme.

Communities minister Sadiq Khan announced this week that these properties will help the area meet its long-term housing needs.

The politician said that the south-east requires "a long-term strategy" to boost the local economy and address housing shortages in the region.

More affordable homes for first-time buyers may emerge on the market as part of the new plans, and with interest rates widely predicted to remain at 0.5 per cent for the remainder of the year, now could be a good time to purchase property.

"The number of households in the south-east is growing rapidly with housing supply lagging behind and housing affordability worsening," explained Mr Khan. "Despite the current difficulties in the market we need to keep up with the rise in demand and provide more homes."

In addition to the delivery of more housing, the new initiative will see more jobs created and an overall improvement in the region's infrastructure.
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